GENEVA: In order to de-escalate the Trumps Tariffs War, US and China proclaimed Monday (12th May, 2025), that the duo had agreed on the third day of high-level talk here to reduce the tariffs.
Treasury Secretary Scott Bessent informed that following the three days of parleys US and China agreed on a ninety-day pause on measures: “Both countries represented their national interest very well. We both have an interest in balanced trade, the US will continue moving towards that.”
A joint statement held: “Each side has agreed to lower reciprocal tariffs on the other by 115 percentage points for 90 days. That effectively means the US will temporarily lower its overall tariffs on Chinese goods from 145% to 30%, while China will cut its levies on American imports from 125% to 10%.”
2nd Day: Participants of the high-level Chinese-US huddle here at the end of the second day of the Trump Tariffs’ War parleys 11th May claimed to have made substantial progress.
“I’m happy to report that we’ve made substantial progress between the United States and China in the very important trade talks,” Treasury Secretary Scott Bessent stated. US Trade Representative Jamieson Greer told that an agreement had been reached Sunday…
” After President Donald Trump imposed sweeping 145% tariffs on most Chinese goods last month: The president declared a national emergency and imposed tariffs, and we’re confident that the deal we struck with our Chinese partners will help us to resolve work toward resolving that national emergency,” Greer said.
GENEVA: Chinese delegation coming out of the batiment after 2nd day of negotiations.
1st Day: In order to defuse the Trumps’ Tariffs War, Vice Premier of China He Lipeng and US Treasury Secretary Scott Bessent held talks in Geneva 10th May.
Beijing had agreed to engage with Washington when it had signalled possible policy adjustments. It is pertinent to mention here that Trump’s Tariffs War has affected the supply chain drastically besides unsettling the financial markets the world over.
New Trade Negotiator: In order to handle the augmenting Sino-American tariffs war, China on 16th April had appointed 58-year-old Li Chenggang (a former assistant commerce minister during Trump’s first administration) as its new trade negotiator. It is pertinent to mention here that in response to Trump’s tariffs imposed on it, China is pursuing a hardline stance. Interestingly, commenting on President Xi Jinping’s visits to South Asia in order to further ameliorate trade terms, Trump said the tour was a chance to screw the US. Earlier, on 15th April, Trump, pointing towards China’s retaliatory measures, signed an executive order increasing tariffs on Chinese imports to 245%.
Seven Rare Minerals: Savants at the helm of affairs say that seven rare minerals, (that China dominates – both mining and processing means) will play a key role during the tariffs war. These minerals are not only used to power iPhones and electric vehicles, but are utilized in the cutting-edge technology – from fighter planes to nuclear reactor rods. Trump could not retaliate by tariffs if these processed metals are not provided by China to the US manufacturers. Earlier, Chinese Foreign Ministry Spokesman Lin Jian stated: “If the US really wants to resolve the issue through dialogue and negotiation, it should stop exerting extreme pressure, stop threatening and blackmailing, and talk to China on the basis of equality, respect and mutual benefit…China’s position has been very clear. There is no winner in a tariff war or a trade war…China does not want to fight, but it is not afraid to fight.”
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